(2)
A
defense of the obligor set forth in a section of this chapter or a defense of
the obligor that would be available if the person entitled to enforce the
instrument were enforcing a right to payment under a simple contract;

(3)
A
claim in recoupment of the obligor against the original payee of the instrument
if the claim arose from the transaction that gave rise to the instrument, but
the claim of the obligor may be asserted against a transferee of the instrument
only to reduce the amount owing on the instrument at the time the action is
brought.

(B)
The right of a holder in due course to enforce the
obligation of a party to pay the instrument is subject to the defenses of the
obligor stated in division (A)(1) of this section but is not subject to
defenses of the obligor stated in division (A)(2) of this section or to claims
in recoupment stated in division (A)(3) of this section against a person other
than the holder.

(C)
Except as stated in division (D) of this section,
in an action to enforce the obligation of a party to pay the instrument, the
obligor may not assert against the person entitled to enforce the instrument a
defense, a claim in recoupment, or a claim of another person to the instrument
under division (C) of section
1303.36 of the Revised Code, but
the other person's claim to the instrument may be asserted by the obligor if
the other person is joined in the action and personally asserts the claim
against the person entitled to enforce the instrument. An obligor is not
required to pay the instrument if the person seeking enforcement of the
instrument does not have rights of a holder in due course and the obligor
proves that the instrument is a lost or stolen instrument.

(D)
In
an action to enforce the obligation of an accommodation party to pay an
instrument, the accommodation party may assert against the person entitled to
enforce the instrument any defense or claim in recoupment under division (A) of
this section that the accommodated party could assert against the person
entitled to enforce the instrument, except the defenses of discharge in
insolvency proceedings, infancy, and lack of legal capacity.

(E)
In a consumer transaction, if any law other than this
chapter requires that an instrument include a statement to the effect that the
rights of a holder or transferee are subject to a claim or defense that the
issuer could assert against the original payee, and the instrument does not
include such a statement, all of the following apply:

(1)
The instrument has the same effect as if the
instrument included such a statement.

(2)
The issuer may assert against the holder or transferee
all claims and defenses that would have been available if the instrument
included such a statement.

(3)
The extent to which claims may be asserted against the
holder or transferee is determined as if the instrument included such a
statement.

(F)
This section is subject to any law, other than this
chapter, that establishes a different rule for consumer transactions.